Some people decide to start their own business instead of working for a company or organization. Do the advantages for people working for their own business outweigh the disadvantages? Give reasons for your answer and include any relevant examples from your own knowledge or experience.

Nowadays, mostly there are two ways of earning money, namely working for a company or organization and starting their own

business

. It is becoming common to start a

business

rather than being an employee for the younger generation.

Although

there are some disadvantages to be an entrepreneur, I believe that the advantages outweigh any drawbacks. In general, there are two main threats or risks to start a

business

. The

first

one is the risk of loss, because without an adequate strategy,

for instance

, if the products or services will not be accepted by the market, the

business

will not succeed to earn enough profit.

Consequently

, the

owner

should absorb a loss and prepare another exit strategy to retain their

business

by providing more money to inject the capital. Eventually, when people do their own

business

, they have to measure the risk appetite of being lost.

Furthermore

, there is

also

some kind of moral responsibility for the

owner

. If the

business

is not going well, the

business

owner

has to decide which part of the expenditures should be reduced and most of them will prefer to do lay off their employees. Meanwhile, their employees

also

need money for their life and family. It will bring a guilty conscience about the decision.

On the other hand

, businesspersons will have a flexible time because they do not stick to the office working hours,

nevertheless

, it depends on their time management.

Also

, they will have more time to spend with their families and their loved ones, and for their personal development.

As a result

, their life will be happier and meaningful. The other advantage is they will receive daily income if the

business

is going well.

This

means their income is much greater than people who work at companies that receive a monthly income. The

last

benefit for a

business

owner

is to have wide networking, as they will have a relationship with the suppliers and buyers, the government, or other

business

owners in a different sector. In conclusion, I would say the advantages of starting a

business

is greater than the disadvantages.

However

, someone that wants to start a

business

should have a decent strategy so they will have enough profit to retain their

business

and the rewards will follow

accordingly

.